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Al Jazeera America
Jan 31, 2014 3:30am EST
for joining us. >> thank you. >> well, ben bernanke's last day as chairman of the federal reserve is tomorrow. it's been a ride. he navigated the united states through the most time utility use -- tumultuous environment. he turned into a gladiator nishting bold, experimental -- initiating bold, experimental measures to pull the economy back from the brink. his policies fed a surge in economic inequality, like a public figure pushing boundaries of convention, his legacy will be fodder for fans and critics, we look at the defining moment of ben bernanke's chairmanship. >> when ben bernanke was tapped to lead the fed the economy was in the grips of a real estate bubble fuelled by risky mortgage lending. when the markets imploded ben bernanke failed to spot the systematic crisis. >> at this juncture the impact of the broader economy and financial markets seems likely to be detainabled. the bad home loans caught up with wall street. the collapse sent shock waves through the global financial system. credit markets seized. investors fled stocks and money market. with confidence plummeting. ben berna
Jan 3, 2014 2:00pm EST
, what it says about the industry, and ben bernanke on how the fed is changing. treasury yields trading at their highest level since 2011. we will be taking you there live in about 30 minutes. speaking of that, phil mattingly with me from d.c.. what can bernanke say about the fed as he is on his way out to? >> we are about a half hour away from ben bernanke taking the stage. it is a few weeks after policy makers may then move to trim the bond buying program in less -- and less than one month away from his last months in office. this is being billed as his last major speech, likely a review of the turbulent time he has resided over. the fed's decision to start its taper came amid a series of economic reports. those positive economic reports have continued into the new year. it will be very interesting to see what, if anything, he says about his successor. the senate is to confirm janet yellen as the next federal chair. and bernanke has plenty of wisdom to impart. we will see if he shares any of it today. >> phil mattingly joining us there from d.c.. our white house respondent. ben bernan
Al Jazeera America
Jan 1, 2014 11:30am EST
the signature of outgoing federal chairman ben bernanke. but the fed will begin to ease off the easing under new chair janet yellen. under this new edition, we'll examine the green shoots of a recovering economy. >> reporter: the federal reserve wrapped up two days of policy meetings and concluded the u.s. economy is strong enough to start tapering the banks investment program known as quantitative easing. >> we'll be purchasing $75 billion a month reducing purchasing of treasuries by $5 million each. >> reporter: the positive signs are few but strong. unemployment reached a five-year low of 7% in november. the southboun s&p 500, and congress passed a budget for the first time all year. >> the economy is continuing to make progress but it has much farther to travel before conditions with be judged normal. notebly, the economy has been expanding at a moderate pace as we expect growth to pick up helped by monetary policies and waning fiscal drag. >> reporter: all this good economic news could mean that it's time for the fertile reserve to ease it's massive monetary program. the bond buying program
Jan 16, 2014 2:00pm EST
to get you down to the ec where ben bernanke made what may be his final appearance as fed chair. spoke about his eight-year tenure and defended his controversial decision to expand the fed's balance sheet. >> we hope as the economy improves and tell our story and as more information comes out about why we did what we did appreciate andl understand what we did was necessary and in the interest of the broader public. >> are chief washington correspondent was at the event today and he had an exclusive interview with one of the chairman's top lieutenants. time to thek in financial crisis. >> that's right. he was then the vice chairman for one of bernanke's closest confidant as they steered through policy. he was one of the people president obama considered to replace ben bernanke and i sat down with him after the event to get his take on how history will treat an bernanke. goi think ben bernanke will down as one of the great federal reserve chairman in history. was presented with a terrible situation. by the time he became chairman and 2006, the cycle is close to peaking. house rises were
Jan 16, 2014 10:00am EST
and stephanie ruhle. >> love him or hate him, ben bernanke has cojones. anchor ever had as big an impact? he did not see the crisis coming . playbook andthe revolutionized monetary policy and the federal reserve itself. bernanke has two ways his term, delivering what is expected to be his final speech as chairman. randy krasner is a former fed a professor at the university of chicago. the final chapter has not been written. at this point, what do you think we can say about ben bernanke's legacy? positive viewry of the chairman. as you said, we took a lot of risks in doing things that had not been done. when the fed in the 1930's did not do anything after similar shocks, things i did really badly. we never repeated the great oppression, we had a contraction but nothing like the one third job in gdp, 30% decline on price level and unemployment we had in the 1930's. the chairman gets a lot of credit for that. do we like at your or the bank of japan and perhaps the bank of england to recognize the wisdom of what ben bernanke and other members of the fomc decided they had to do. if there were an alte
Jan 29, 2014 1:00am EST
this wednesday morning. covering ben bernanke's last stand as fed chairman. top executives are coming together in frankfurt today to discuss the results. we have a look ahead. >> he has the details on the move to raise rates in turkey. it is a slow turnaround for yahoo!. are continuing to spend their money elsewhere. the ukraine is celebrating the prime minister resigning but vows to topple the president. we will look at the country's political and financial crisis. >> let's take you a little bit about what is coming up later. hans nichols will sit down with anshu jain. havee second hour, we will joe jimenez. europe's biggest drugmaker novartis -- $1.20. analysts are asked -- are expecting a little more. $2.96 billion. sales are growing by four percent which is aligned with the custom is -- the company's estimates. it is the lowest single digits rate in 2013. low to midising single digits in constant currencies as well. the dividend put forward by the 2.45.y is this is a company that is going very -- going through a transformation. es theyeathering the loss received on its medications. and a c
Jan 11, 2014 12:00am EST
would professor warren give ben bernanke? >> it is a mixed grade for me. ben bernanke did a lot to stabilize the market, but he kept the focus on the largest financial institutions and much less what was happening at a family level. the fed's role has limited tools. in dealing with that crisis, the fed has a responsibility and -- on regulation. under dodd frank, it has missed its deadlines massively. the rules have been complex and difficult to follow. it is very uneven. there is then -- and there have been cases where ben bernanke did a good job. regulation has not been a place he has concentrated and done with the fed needed to do to help bring it under control. >> you think there'll be a new day with janet yellen? >> i want to be hopeful. >> that is your byword for today. senator elizabeth warren, thank you for being with us. when we return, we will talk about what is next for president obama and the december jobs report. ♪ >> welcome back. the unemployment rate dropped to 6.7%, but only 74th out and jobs -- 74,000 jobs are added. we have julianna goldman and richard miller
Al Jazeera America
Jan 31, 2014 3:00am EST
on friday after eight turbulent years. ben bernanke was on the receiving end of one of the america's worst financial crisis erupted in 2007. his successor janet yellen will take over. we examine his legacy. >> the final few hours in charge of world's most influential bank. when ben bernanke was appointed. he had no idea a global financial meltdown was coming. an expert, he was a key player trying to stop another developingment he knew the things not to do. so i might not tell you what to do, but he could eliminate a bunch of disasers. he was the perfect man for the job. >> with the economy in trouble and credit freezing. banks in trouble, and urging congress to provide money to stop a collapse. with mooedest economic growth it looked as if he knew the way out. >> in retrospect. the financial crisis and the dysfunction of the housing market had been more severe and persistent than we initially believed. >> interest rates were pushed close to zero, then came quantitative hearing. it heaped the housing market lift the stocks and improve the broader economy. not by a lot. >> severe financial i
Jan 29, 2014 2:30pm PST
reserve chairman, ben bernanke, talked about plans from pulling back from stimulating the american economy. he says the $10 billion cuts are stronger now due to a stronger on agile outlook, but the news made the market a little nervous, the dow jones falling nearly 200 points. for more, i am joined by the chief bbc economic correspondent, linda you -- yu. they do not seem quite convinced of what the fed is doing. >> that is right, and i think there is probably an important distinction to make. one, of course, ben bernanke in his last meeting has set out a case for essentially ending quantitative easing, and that is the cash injection program, taking $10 billion out of the say,my, trimming, i should from 70 $5 billion to $65 billion, and that means that qe will likely end this year. the reason people are nervous about it is twofold. once, they want to see what will happen with interest rates. will rates go up? rates going up is technically not good for borrowing costs and also a rather fragile american recovery. the second reason is if you look at the emerging economy, the end of qe, there
Jan 31, 2014 2:30pm PST
warned that the big game could be a magnet for sex traffickers. today marks ben bernanke's last day in office after eight years heading up the most powerful central bank in the world. the u.s. federal reserve. he had to deal with the worst financial crisis since the great depression. he oversaw a massive government stimulus program. he gets to watch as janet yellen takes the helm, a groundbreaker for many reasons. linda you looks at the road ahead. in the 100 year history of the u.s. federal reserve, there have been many different years of -- many different ways of handling the economy, but always one, and nominator. there was a man in charge. but that is changing. janet yellen is taking over. a 67-year-old former academic, moving up from the number two job at the fed, she will present a radically different face but not a radically different policies from her predecessor, ben bernanke. recovery, hee flooded the economy with cheap cash and capture rates low. now that the economy is getting back on track, janet yellen's era will be different and she has made clear her focus. >> the ma
FOX Business
Jan 3, 2014 3:00pm EST
viewers know, keith, we're going to be hearing this q&a session from ben bernanke. so far he hasn't given us any hints at what 2014 looks like from fed policy. were you expecting to hear something today? >> no, i don't. mr. bernanke's always been a great poker player when it comes to keeping things close to his vest until he gets out in front of the public at one of his press conferences after an fomc meeting. i imagine he's going to set the stage for incoming chairwoman yellen to devise policy for 2014. i don't think he's the type of guy who doesn't want to influence things once he's out of there, so he'll sell off into the academic sunset, so to speak. cheryl: or maybe the very lucrative speaking circuit. i do want to ask you about markets for 2013. we've had a lot of analysts, we're hearing some say we need a correction, we're looking at a 10% correction, it's going to happen in the first quarter and then others tell you don't fight the tape. what do you think? >> it's very hard, and the second point it's very hard to remove yourself from the equities, especially as we continue with th
Jan 29, 2014 1:00pm EST
is one hour away. this is the last meeting for ben bernanke as fed chief. as we count you down to the bulk of this market, it's not really in a great mood. as its worst point today, the dow was down 174 points. we have recovered quite a bit of that. we are down about 140 right now. the spike started at about 10:00 a.m. or so. the biotech index once again in focus. the top performer today, it's up some 50% for the year and we will follow that in just a few moments. more on that coming up. three sectors have been holding above the break-even point all day. those are the materials, energy and utilities sectors ahead of the fed. also, let's check the dollar versus the euro. right now the dollar, it's been a very interesting session. against the euro, you can see the move there. still a big short squeeze again the yen today. that's why you see that relationship between the dollar yen. there's the pound and also, we put the turkish lira up of course because it is very much in focus. all right. let's bring in bob pisani as we look at the ten-year note. 2.71% on the trading session. th
FOX Business
Jan 30, 2014 1:00pm EST
gone completely wrong. lori: sending ben bernanke out on a harmonious note the fed unanimously agreeing to continue to wind down its massive bond buying program. the wall street journal on ben bernanke's legacy as janet yellen takes over. adam: super bowl executives from the broncos and seahawks are helping kickoff the trading at the stock exchange. we hear from the man at the top of the denver broncos' organization president joe ellis joins us in studio. lori: tony gonzalez is here. he is retiring but that doesn't mean he is slowing down. mike master in an interview you will only see on fox business. adam: what a difference a day makes, stocks rebounding, heading for the best day of 2014. to the floor of the stock exchange nicole petallides standing there. nicole: we are down 6 of the last seven trading days, a different picture. some things that may have turned the hour around the dow is up 156 points, a gain of one full percentage point. what may have caused this word gdp numbers and also economic numbers were good or good enough, earnings and outlooks that seem to be better
FOX Business
Jan 16, 2014 11:00am EST
next hour we'll get through the ben bernanke commentary, and we'll have a one-on-one with the cyber expert behind the revelations today, trusted sec ceo david kennedy will be on with dennis and cheryl, that's next hour. he's testifying now up on capitol hill, and dennis and cheryl will talk about that next hour on "markets now." dagen: and it is quarterly earnings season. goldman sachs and citi reporting quarterly earnings before the bell this morning. goldman's profit topping estimates, citi says profit more than double from a year earlier, but it still came up short of analyst expectations. what to make of those numbers and the entire be financial industry, let's bring in capital advisers president anton schutz. finally in studio, my man. so far the reports you have gotten from the big banks, what's your assessment, your take? >> well, i think, actually, good enough. i think people were expecting a moderately weak -- dagen: because of mortgage? >> well, because of mortgage, because of legal reserve building, because credit spreads are still a little light in terms of the margin, a
FOX Business
Jan 3, 2014 4:00pm EST
: this is unlikely the last comments we'll get from current federal reserve chairman ben bernankeings speaking at the american economic association in philadelphia. a couple comments he made really quick, i will bring up, even low inflation can bring problems. that is a direct quote. there is hard to balance the fed and when and if the fed's bond buying program would continue, how long, things like that. of course he didn't answer any of those questions. david asman joins me right now, he never does. you saw the markets take a clear dip down. david: it was up 75. it is up 28 points. it coincided speaking in possible. you see the drop in the green arrow when bernanke started to speak. i was dying to know what he wanted about bitcoin. we won't ask you that. i would have liked to know what he asked about emergence of a currency unregulated by central banks of any kind. cheryl: probably doesn't want to step into that leaving door open for janet yellen to walk in. that would be her issue. david: that would be her issue. we have today's market panel to talk about what bernanke had to say. gary rand,
Jan 6, 2014 9:00pm EST
on this hour. how many people vote against janet yellen? ben bernanke set a record in 2010 when 30 senators voted against him. 34 senators voted against janet yellen in a procedural vote before they left. there is an i am ens growing political pressure on the fed, even more than the last year, year and a half. republicans are about to start an investigation process on 1900th year anniversary. how many people vote against janet yellen today will be an important thing, an important gauge to look at going forward. obviously she has an enormous amount on her plate, pimm, going forward. clearly, as ben bernanke alluded to his last couple of times in public, dealing with congress is pretty high up there. >> thanks very much, phil mattingly in washington. all right, turning to the world of e-commerce. india is the world's fifth largest marketplace and its top online retailer, snapdeal. it's only three years old but it has secured investors such as ebay, intel, bessemer venture partners and silicon valley bank. also, 20,000 members. the future of snapdeal is bright. what does that mean for an i.p.o
Jan 3, 2014 3:00pm EST
not playing along well this hour. >> ben bernanke this hour. >> yes we do. >> he'll be delivering what some characterize as his farewell address. steve liesman telling us in the last hour the headlines from those prepared remarks. but in a little while, there will be a q&a session. those often can make market-moving news and it will occur in the final minutes of today's trading day. we'll take you there live when that gets under way. >> good point. those headlines didn't move the market when they hit, but we have heard comments which are having more impact on market today. >> more concerns on the troubled obamacare law. new reports that newly insured people may end up going to emergency rooms more not less as the white house predicted. if that holds true that will throw costs way out of whack for this program. we'll get reaction from a top administration official whose entire job is to get the implementation of this law to be smoother. >> this is on front page of all the major newspapers this morning, this study you mentioned. it goes back to oregon where they
Jan 31, 2014 3:00pm PST
reasons not to go forward. good evening, i'm judy woodruff. also ahead, it's ben bernanke's last day on the job. we assess his economic legacy after eight years as head of the federal reserve. >> i give an a minus. >> a give maybe a c minus, in the semester since 2010, let's say, i would say incomplete >> woodruff: plus, ahead of sunday's big game, we look at a new type of super bowl ad directed to your mobile phone. and it's friday, mark shields and david brooks are here to analyze the week's news. those are just some of the stories we're covering on tonight's pbs newshour. >> major funding for the pbs newshour has been provided by: >> i've been around long enough to recognize the people who are out there owning it. the ones getting involved, staying engaged. they are not afraid to question the path they're on. because the one question they never want to ask is, "how did i end up here?" i started schwab with those people. people who want to take ownership of their investments, like they do in every other aspect of their lives. >> supported by the john d. and catherine t. macarthur f
Jan 3, 2014 7:00pm EST
what it takes to regain the senate in november? and ben bernanke gives an optimistic farewell address claiming qe boosted the recovery. but aren't we really headed for a multiyear fed tightening cycle? that's his gift to janet yellin. those stories and much more coming up on "the kudlow report" beginning right now. >>> good evening, everyone, i'm larry kudlow. this is "the kudlow report." we are live here 7:00 p.m. sxeern eastern and 4:00 p.m. pacific. much of the east coast digging out from a big snowstorm today and man,'s is it cold. single digits here in new york. nbc news's ron mott joins us live from boston, where it may be worse. good evening, ron, and thank you. >> reporter: hey, larry, good evening to you. let me tell you, it is so cold out here it's hard for me to really convey to you how cold it is. the muscles in my face are really straining to be able to get this mouth to talk, but i can tell you it's 9 degrees right now with a wind chill of about 7 below. the temperatures are plunging quickly. and overnight we're expecting the wind chills to hit minus 20. so there's? real
FOX Business
Jan 29, 2014 4:00pm EST
that spills over into the markets. today's front page headlines. chairman ben bernanke's final policy meeting today and as expected the fed reducing bond buying program another $10 billion a month to 65 billion overall. liz: with boeing's stock taking a beating after the aerospace giant disappointed investors with 2014 guidance specifically, the chairman and ceo, jim mcinerney said it has an order book that will keep boeing busy for nearly eight years. david: jetblue, rising ticket prices boosted revenue and the airline said flight cancellations because of bad weather this month will hurt first quarter results. >> at&t shares falling after the giant's lackluster earnings report. at&t subscriber growth fell short of analyst estimates amid fierce competition from t-mobile. david: dow chemical's stock jumped after the company beat esttmates. wasn't all down. dow unpressure from activist investor dan lobe, raised its dividend and tripled the share buyback program. liz: auction house sotheby's, another company under siege from dan lobe says it will return 450 million to investors. the move coming
Al Jazeera America
Jan 30, 2014 7:00pm EST
and an author. >>> well, ben bernanke's last day as chairman of the federal reserve is tomorrow. he navigated us through the worst financial crisis since the great depression. at the turned into a gladiator, with a series of bold measures to pull us back from the brink. bernanke's courage in the dark days is undenial. but also economic inequality. like any who pushes the boundaries o of convention -- >> he'll be an outstanding chairman of the federal reserve >> reporter: when ben bernanke was tapped to leave the fed, the sub-prime markets started to implode, bernanke infamously failed to stop the systemic crisis that it would trigger. >> with this broader economy and the financial markets, seems likely to be contained. >> the bad home loans caught up with wid wall street, bringing lehman brothers to its knees, and the shock went through the financial it system. credit markets seesed. and investors and stocks plummeting. bernanke on the great depression harnessed the federal reserve to arrest the free fall, slashing interest rates to historic lows, pumping liquidity into markets. and multibillio
Jan 31, 2014 5:30am PST
's super bowl, up to $4 million for 30 seconds. this friday brings an end to ben bernanke and his eight year stretch at the home -- the helm of the u.s. federal reserve. he ran thetenure, worlds most powerful central bank during the deepest economic crisis since the 1930s. jessica -- for janet yellen, who has served as the vice chair for the past four years, to -- stepping into the top spot, she will be the first female to ever leave the u.s. that and will largely be expected to carry on the policies that bernanke has laid down. i'm joined by economic professor at harvard university. thank you for speaking with us. ben bernanke is leaving after eight years as the head of the fed. in what shape is he leaving the u.s. economy e >> in great shape. you saw the first growth figures, which are stunning. bernanke should get most of the credit for forgetting -- four getting the u.s. economy out of a rough spot. the european countries are in a slow growth spot. there has been a lot of innovation and a lot of out of the box thinking. i think we should give him the credit, a lot of the credit for
Al Jazeera America
Jan 6, 2014 11:00am EST
what ben bernanke hasn't, which is to full-fledge durable sustainable recovery. we are not there yet, but thanks to ben bernanke we are closer than we would have been. >> the jp morgan chase is said to be close to a deal in the berni madoff case. >>> t-mobile is writing a big check to verizon. the deal is worth more than $3 billion. the money will be spent on some of what is called the spectrum licenses owned by verizon. it will cover 150 million people in several major cities including new york, los angeles, washington, d.c. >> today and now declaring unconditional war on poverty. >> lbj declaring his war on poverty. >>> and it's not just a fashion statement, this new pair of gloves will make it safer for you to ride your bike. >> welcome back to al jazeera america. i'm del walters. here are today's headlines. the supreme court entering the gay marriage debate. jusin utah same-sex marriage bee legal when a judge struck down a voter approved ban. last week the attorney general asking the supreme court to spend that ruling now the supreme court blocking any new same sex unions in utah
FOX News
Jan 5, 2014 12:00pm PST
be a good year. >> vindication for the federal reserve and ben bernanke as he hustles out of town? i mean, finishes -- was he right? >> as he hustles out of town, not taking the punch bowl with him. that's what i worry about. is they have been printing money, doing everything they can to offset all of the mistakes on the political side that the political authorities have made. and they have maintained very low interest rates. now the economy is growing again. i don't see anything in the record of janet yellen to say she is the one that is now going to stop all of the money printing and they are talking about a taper. this is a teeny tiny baby step towards less intervention in the mark. >> taper is -- fewer bond purchases by the federal reserve. janet yellen going to be ben bernanke's successor at the central bank. you are worried if they -- do start to taper more aggressively that's when the markets will get shaky. >> this year -- i expect a good year for the markets and the history says based on last year, after a -- that kind of an increase, you normally get an up year the next year. i
Al Jazeera America
Jan 31, 2014 1:00pm EST
bank. ben bernanke has signed his last check after eight years as chairman of the federal reserve. and janet yellen takes over. a look at how bernanke will be remembered >> reporter: the final few hours in charge of the central bank. ben bernanke was pointed as the chairman of the federal reserve, and he had no idea that a global meltdown was coming. an expert on the great depression, he was one of the key players trying to stop another from developing. >> he knew what not to do. he didn't exactly know what to do, but he could eliminate things that he knew to be disastrous in the past. he was the perfect man for the job, and we were very lucky. >> reporter: with the economy in trouble, he poured money into the system, and provided congress with enough money to stop a collapse. with modest economic growth, it looked as though he knew the way out. >> i think its clear that in retrospect, the severity of the financial crisis and other problems, including the dysfunction in the housing market have been more severe and persistent than we initially believed. >> reporter: interest rates
FOX Business
Jan 3, 2014 5:00pm EST
5:30 p.m. eastern on monday. ben bernanke will step down on january 301st. interesting she is losing votes. probably get all the democratic votes so she will pass. may not get as many as she thought. >> big thing on monday. melissa: thousands of jobs on the line, a pivotal vote that could set a precedent for pensions everywhere. will boeing fly out of seattle leaving 10,000 jobs behind? we're live on the front lines because even when they say it's not, it is always about money. melissa: it is our top story tonight. 31,000 jobs and more than $10 billion worth of orders are at risk for boeing today. the plain manufacturer's local and international unions clashing over a new contract proposal with just hours to go until the votes are in. what is being called an unprecedented decision, boeing says it will move the entire production of its 777x model if unions don't agree with its terms. go right to fox news's dan springer, live in washington with mo. more. dan, do you have some feeling one way or the other how this is going to go? >> well, i can tell you turnout is strong, meli
Jan 6, 2014 5:00pm EST
at going forward. she has an enormous amount on her plate going forward. clearly as ben bernanke has alluded to his last couple times in public, dealing with congress is pretty high up there. >> thank you. world of e-he commerce, india is the world's fifth-largest marketplace. snapop online retailer, deal. 20,000 members. the future is bright. what does that mean for an ipo? snapdeal's by founder. you just came in from india. how did you start this company? >> the company was started in [inaudible] we wanted to do something together. was challenging to find stuff and we realized an e-commerce site would solve the problem. >> is there a challenge in india because you have so many mom- and-pop, small retail merchants? >> india has $600 billion retail market. on the seven percent is organized. >> out of 600 alien. >> only seven percent is organized. there is a great opportunity we saw in aggregating a long tail of some lie of these mom-and-pop small businesses. offering that supplied to the long tail consumer, we are talking about one billion consumers here. >> many people when they thi
Jan 6, 2014 6:00pm EST
keeping an ion when ben bernanke was confirmed, he set the record for the most senators opposed to his nomination with 30. they expect patient is that janet yellen would surpass that. she fell short with 26. big issue, whether a number of senators could make it back for the vote. ben bernanke holds on to that title when he does not -- one that he does not want to have. 26 opposed. the fed still recovering from the political scars of the financial crisis. never before were senators voting by 10's and 20's against federal reserve nominees. a lot of work to do from the fed. something bernanke has talked about his last few public experiences -- appearances. will have to talk to congress whether she likes it or not. janet yellen, february 1, the next federal reserve chairman. >> it is official. ask for bringing us that update. now to another story we're following. tim cook and apple are taking steps to diversify the board. apple has one woman board member and one incoming woman in the top executive ranks. she is the former ceo of burberry and she will be coming into lead retail. -- under be
Jan 8, 2014 2:00pm EST
most economists are saying she will continue ben bernanke's work. most economists are saying she will continue ben bernanke's work. >> what we see in these minutes, there is certainly no indication of any new course or path of action on the part of the fed run by janet yellen. i think we can expect more of the same. these minutes suggest there has been some pretty healthy discussions about the pace of purchases. while he agreed to do $10 million, apparently some in that room favored a more aggressive we -- aggressive move. she seems in lockstep with ben bernanke. that is the most important message washington is focused on. >> thank you very much. peter cook joining us there, our chief washington correspondent with the very latest from the fed. from breaking fed news to breaking sports news, we are going to get you out to the breaking news asked. mark crumpton is there with details on who has been admitted to the home -- the hall of fame. which families are going to be making trips to cooperstown? selecting three riders to the baseball hall of fame. maddux, tomy, greg glavine, and
Jan 6, 2014 4:00am PST
ben bernanke, as he delivered comments in a q&a. the dow rose 29 points... the nasdaq fell 11, s&p down 1. gold was up 11 dollars and oil moved down a buck 27. traders tuned in as outgoing chairman bernanke defended his policies aimed at economic recovery which included a massive bond buying stimulus program. mr. bernanke also says he anticipates a stronger economy in 20-14. and tomorrow... president obama will host an event at the white house for some workers whose long term unemployment insurance recently expired. he'll deliver a speech urging congress to pass a bill to extend those benefits when they return from recess today. chris gersch of altimus capital joins us now, good morning chris! >>good morning. >>we're now into the first few trading days of the year...what is your gut reaction about where this market is headed? >>my gut reactions is to really go with what history has told us. and with the santa claus rally that's adding up the five days after christmas along with the 2 days right after new year's. take those 7 days and if you combine the returns if it is positive,
Dec 31, 2013 6:30pm PST
. it's safe to say no individual had more influence on the stock and bond markets than ben bernanke. the federal reserve chairman kept market ratings guessing all year on when he would begin tapering the bond buying which helped fuel the bull market. here's steve leaseman with more on ben bernanke. >> reporter: for most of the second half of 2013, fed chairman ben bernanke sang a single tune. don't fear the taper. but it wasn't always well received on wall street. he first warned in may of a possible reduction to the fed's bond-buying program known as quantitative easing or q.e. >> if we see continued improvement and have confidence that that is going to be sustained, then we could in the next few meetings, take a step down in our pace of purchases. >> reporter: the dow industrial average would lose 90 points over the next two days. and 400 points over the next week. in june, bernanke spelled out a schedule for ending q.e. >> we would continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around mid year. >> reporter: the dow
Jan 29, 2014 6:30pm PST
and ben bernanke's lasts one as chairman of the fed, the central bank seemed unsafazed i the recent emerging markets. . neither recent emerging market currency turmoil in turkey and elsewhere nor the disappointing december jobs report was enough to get the federal reserve to change its mind about trimming its bond buying program. at ben bernanke's last meeting as chairman of the federal reserve, monetary policymakers were unanimous to reduce purchases by northerly $10 billion to 65 billion per month starting in february. leading analysts were not surprised. >> we couldn't see any real way that they would have stopped the process because of some increased volatility in e.m. and recent selling in the s & p. it just didn't make a lot of sense. >> reporter: the economy appears to be a mixed bag for monetary policymakers. on the positive side, growth in economic activity picked up in recent quarters with both business investment and household spending improving. but there are notes of caution about the mixed job market indicators. and the housing recovery that has slowed somewhat in the
Jan 6, 2014 7:00pm EST
no votes for janet yellen, a few short of the no votes for ben bernanke in 2010. the fed will take that away as a positive signal as the health of the fed. there were some detractors out there today. listen to senator chuck grassley speaking just before the vote. >> the stock market has become addicted to the fed's easy money policies. this has led one notable investment adviser to question whether the fed will ever able to end the quantitative easing program. >> and, larry, that's going to be the biggest question for janet yellen, how does she end the quantitative easing program, house of corrections quickly does she taper back and what metrics does she use to decide continuing tapering at the pace ben bernanke set us up for. >> what do you hear about another possible important fed appointment for vice chair, professor stanley fisher, former head of the israeli bank, had a great reputation and former professor at m.i.t. >> i have not heard of that and i heard a relationship question between janet yellen and whoever is serving as vice chair. and another question is whether she cont
Jan 3, 2014 6:00am EST
is speaking as well. pour the tea and open the bars in philadelphia. >> rockstar ben bernanke? >> it is his final speech, and it is a big deal. you wonder if he will go back to princeton after his tenure of duty. difficulties yesterday to begin the year. stasis right now. the 10-year yield under 3%. we come in, the euro, that weak trend, and you see all currencies adding today off of the drama -- you see all currencies ebbing today off of the drama. sub 1200.ers, we are up about $32. we made it to 3.97%. sterling we will talk about in the forex report. scour the web -- got out a snow shovel, braved it from brooklyn. erik schatzker with the front page. >> east coast, threatening blizzard conditions, disrupting travel. highways are closed, thousands of flights have been canceled. areas north of boston got 21 inches already. forecast, meaning temperatures will feel much colder than the thermometer shows. new york city -- it is 11 degrees. placid.low, lake bonnie snyder helps us out as our meteorologist. what has struck you about the storm? >> cold wind -- i mentioned we were not seeing the mos
Jan 7, 2014 6:00am EST
and a history of the federal reserve. she will take over when ben bernanke's term expires at the end of the month. she has been the fed vice chairman since 20 10. her confirmation at a record low number of votes versus what ben bernanke got. >> still, a big deal. >> shows the political divide among congress. will not at jpmorgan be penalized as part of the $2 billion settlement in the bernie made off ponzi scheme. this is according to "the wall street journal." the justice department is expected to announce the deal this week. jpmorgan likely to announce a did not have the proper system in place to detect the fraud. no duh. >> everybody got a couple of days ago they would get fine. let's talk to our two guests hosts to join us talking about ces and brands, author of "the edge." hindley smith with us as well. ,hief investment officer helping high net worth people, particularly with their bonds. we're going to go bonds, bonds, bonds and alan, brand, brand, brand. transformers. i watch it with no sound. it is a must better with no sound than sound. transformers. >> you can watch it with
Jan 4, 2014 5:00am EST
, sunday night at 8:00 on c-span's "q&a." >> the outgoing chair of the federal reserve, ben bernanke, delivered a speech friday in philadelphia, called the changing federal reserve, past, present, and future. the fed recently announced it will begin slowing its bond purchasing program this month known as quantitative easing. the senate is scheduled to hold a confirmation vote on monday on chairman bernanke's successor. he's joined by economists. they spoke for about an hour and a half. >> these are the annual meetings of our association, the association of economists, and it's attended by 11,000 or 12,000 card-carrying economists from around the country and indeed around the world. we gather here -- not here, but in these meetings annually. we debate high theory. we debate policy. we have discussion groups. and this is one of the sessions that we're particularly proud of and is one of the highlights of these meetings. we have the pleasure today of hearing the reflections of ben bernanke. ben earned his ph.d., earned his ph.d. from m.i.t. in 1979. and since then, he's been a distingui
Jan 29, 2014 3:00am EST
." it is ben bernanke's last stand. will he leave with a bang as global markets react to tapering concerns? plus, growing concern for yahoo!. more on the move, next. ♪ >> welcome back. i am francine lacqua here in london. this is "on the move" on bloomberg television. here is a stock that is on the move. mulberry, down some 22%. it is falling to a three-year low after it said pretax profits for the full year are going to be substantially below current market estimates. this is the kind of move our clays says and eight sales are disappointing. also, korea sales -- wholesale sales are much weaker than expected. that is one of the stocks we are watching out for today, down 22%. deutsche bank surprised investors last week with an unexpected loss in an unexpectedly early report. today executives are making in frankfurt to discuss results as well as new initiatives. hans nichols joins us now from frankfurt. what is going on? you will be speaking to the co-ceo on bloomberg. >> we will have that interew as soon as we possibly can. what we have here is the official release of the fourth quarter n
FOX Business
Jan 16, 2014 3:00pm EST
with the major headlines? let's get the big bank earnings, we have best buy news and ben bernanke. and have you heard of the anti aging product new skin. and what is going on with the company and a thick skin and shares a getting creamed today. and eye-popping 28%, chinese authorities ordered an investigation into where it conducted illegal multilevel marketing. that is bringing together a multilevel marketing. and charlie gasparino watching these stocks, watching the store closing, has the inside scoop for you in a moment. it has reopened, and citigroup both reporting earnings before the bell. x it is that -- six income trading fell, goldman still beating analysts' expectations turning $4.60 a share, and the estimate of $4.22, a clear be there. citigroup forecast by goldman. and $0.82 a share versus projections. goldman sachs, citigroup, citigroup is really under pressure by 4%, goldman down 2% so not a great day for either of these names, but when i go to don bose, switzerland for the world economic forum, i have a sit-down interview with citigroup ceo michael corbett. i will talk to him, som
FOX News
Jan 4, 2014 10:00am PST
♪ >>> welcome back. federal reserve chairman chief ben bernanke looking into his crystal ball and seeing good times ahead for the economy. his prediction of strong economic growth as he prepares to hand the reins of the fed over to janet yellen on monday. the outlook for wall street may be less optimistic. some experts there now saying that the bull market of 2013 may be running out of steam. what can we make of all this with main street and wall street? joining me now, kyle arrington, founder and managing partner of arrington capital management. kyle, happy new year to you. so looking into your own crystal ball is ben bernanke right? >> well, you know, kelly, i hate be to the bearer of tough news, but the reality is, is that i think that the economy in 2013 has been artificially stimulated by extremely low interest rates. i think ben bernanke did the best job he could to keep rates at a point that matched what main street was telling him. new, as of this last quarter, we saw a bit of bernanke. he's getting ready to leave office and janet yellen will be coming in. we saw some tapering. what t
FOX Business
Jan 6, 2014 4:00pm EST
will replace ben bernanke whose term ends late they are month. david: talked to jon hilsenrath from the journal coming up. jpmorgan's stock little-changed avenues that the banking giant will pay again as much as $2 billion to settle claims it ignored warning signs about bernie madoff's huge ponzi scheme. cheryl: ford and chinese partners report ad nearly 50% rise in auto sales last year. ford outselling toyota and honda but still lagging behind gm and volkswagen. david: much of the u.s., as chairman mentioned at the top of the show in the grip of coldest weather in two decades. the arctic blast bringing dangerously low temperatures officials describe as life-threatening much. thousands of flights are canceled. a lot of businesses are closed we're open doing business at the closing bell. "after the bell" starts right now. david: time to break down today's market action. we have jason pride, glenmede director of investor strategy to tell us which markets are heating up for the year and lincoln ellis, green pitt capital, from the pits of the cme. lincoln, talk about gold. something happened with g
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